The under is a direct excerpt of Marty’s Bent Issue #1133: “Media on a Bitcoin Standard.” Sign up for the newsletter here.
Bitcoin is revolutionizing media and only a few persons are paying consideration. Your Uncle Marty is turning into extra satisfied of this by the day. Particularly as he will get extra acquainted with Podcasting 2.0, the present killer app of good contracts on prime of Bitcoin.
We have talked about Podcasting 2.0 on this rag earlier than however for these of you who’re unaware here is a short explainer; Podcasting 2.0 permit a podcaster to connect a bitcoin lightning community handle or a number of addresses within the RSS feed that syndicates their audio file to the entire totally different podcasting platforms and apps. Podcasting platforms and apps who need podcasters and their listeners to have the ability to reap the advantages of Podcasting 2.0 incorporate bitcoin wallets into their merchandise in order that customers can ship sats to the lightning handle(es) included within the RSS feed as they pay attention. This permits podcasters to straight monetize their content material. Customers can ship hosts an quantity of bitcoin that they consider is commensurate with the quantity of worth they’ve gotten out of the content material. The podcaster can then distribute that worth to their group robotically.
Here is what our break up appears to be like like at TFTC.
I get a stable chunk, my co-host Matt will get a stable chunk, and our producer and developer/node supervisor get a minimize for the worth they carry to the operation. Our RSS feed acts as a wise contract as a result of that is the place we put in our addresses and the break up between the 4 of us. When freaks ship sats to the podcast they’re instantly distributed to every of us based mostly off the ratio visualized above. There isn’t any intervention on my finish to maneuver the cash aside from dumping the addresses and the splits into the RSS feed.
That is one thing quite simple, but additionally very profound as it is going to have huge implications for content material monetization as time strikes ahead. You possibly can start to implement this sort of direct monetization into written and video content material as nicely. Artists who produce music might benefit from this in addition to it hypercharges the flexibility for unbiased artists to interrupt away from file labels and platforms like Spotify that take a lion’s hare of the income produced by their artwork. If they will work out create a Lightning-enabled paywall for his or her songs or incorporate sats streaming so listeners pay microtransactions as they pay attention, they will straight monetize their music and instantly pay everybody concerned with its manufacturing.
As I level out above, advertisements should still be round, however they may act in a different way. Customers utilizing Podcasting 2.0 appropriate apps whereas listening to the advertisements in a podcast might probably receives a commission for that point. Advertisers might designate a portion of their advert funds to make this a actuality. Hopefully getting far more correct knowledge on the price of person acquisition that enables them to make higher choices round spends.
That is only a rushed and never completely fleshed out model of the imaginative and prescient in my head. About to go meet my dad and mom for dinner however hope to deliver a few of these concepts to market over the subsequent 12 months at TFTC. Be looking out!